Robert Benmosche, AIG CEO, Says Attorney General Cuomo Is "Unbelievably Wrong" For Going After Wall Street Bonuses

Bloomberg:

American International Group Inc. Chief Executive Officer Robert Benmosche told employees that New York Attorney General Andrew Cuomo was "unbelievably wrong" for drawing attention to staff who got retention bonuses.

Benmosche criticized Cuomo and lawmakers during a town-hall style meeting this month for life insurance workers in Houston.

Read the whole story: Bloomberg

Comments

[Artos]

Right there is a very good sign that the Bankers are still busily robbing Americans. What Business man that really has any integrity, would honestly feel that he had the right to hand out bonuses, when his business wasn't even holding it's head above water. We are all being suckered. These crooks are rewarding themselves with the Treasuries funds and when their banks fall apart they will be sitting pretty on the French Riviera. More the fools are we.

[moutonnoir]

Dont you see?!?! These are the 'talent'... We must give the 'talent' whatever they want..

[msjimmied]

Mr. Benmouche, your company is essentially worthless right now. It's too bad none of your stock was available to short because it was just screaming to get creamed up there in the 50's. Trust me, I tried...but whoever had cornered the market of your stock for shorting did a masterful job, because they just made a boatload of money, both when the stock went up and down. I wonder who that would be? If you sold all the parts of your company you would still not have enough to pay us all back...and you want to talk about bonuses? More spa trips perhaps? And that's just AIG...lets not go into the other entities. Wall Street bonuses...­sheeesshh.

[themodernleader]

I have warned repeatedly that when leaders are rewarded for criminal behavior, such ignomny incites the audacity to commit much more heinous and terrible crimes. For the AIG CEO to threaten our political leaders doing their jobs to protect the people is dispicable performance. He should be censured. The Obama Administration should investigate his corporation for potential wrong doing. Most important, the Obama economic team should quit the illegal activity of covering up past criminal behavior of the financial institutions who brought this country down to this perilous condition. Indeed, our country is in the embrace of the banking boa constrictor that is gradually squeezing the last human and economic value out of our sinews of strength.

[Artos]

Hey ,these Corporate Kings are the ones running America, do you really think this guy fears Obama?
They are the ones with the money, and money is what runs America. We don't have a chance in hell of getting any justice. It's been like this since the day America became a nation. The only thing we did by getting rid of King George was we exchanged titled Gentry for landed Gentry. just a different class of tyrant.

[spinns17]

http://video.google.com/videoplay?docid=7065205277695921912

[Furby]

I can think of a lot of things that are "unbelievably wrong" and going after the bonuses is not one of them. If people fear the consequences of their greed, tough.

[Tiggy]

"You don’t create lynch mobs to go out to people’s homes and do the things he did.” "He Cuomo" didn't create the lynch mobs, AIG did by bilking people out of billions, crashing the economy only to turn around and pay those ridiculous bonuses.
In this country, we have a right to know what we are buying and our tax dollars bought/saved AIG! Personally, I wish we had let them fail because then there would be no dispute over bonuses and Goldman would not have received 100 cents on the dollar! But we did so instead of people standing in line for a big bonus, be thankful you have a job because thanks to AIG and company, millions don't have the luxury of having a job!

[MsJoanne]

Amen! Too big to fail becomes bigger and bigger. Let them crash and burn, then let people run these companies who are willing to be paid obnoxious sums based on performance, not simply breathing.

[tck29]

Know what's great about AIG? They get to have their cake and eat it too. AIG is the main culprit in the "socialize the losses and privatize the gains" scam. Not only are they "too big to fail" they are also too big to pay claims. Just ask anyone who has ever submitted a claim to AIG - the first line of defense is to deny every claim that comes in. A large percentage of policyholders just give up right there. Voila! Profit! Yes, other insurers are guilty of the same practices, but AIG is shameless about it. They pay bonuses for that?

[humanbeing-rick]

Send Benmoche back to Croatia where he belongs, he is not American, and should not be running AIG. The board of directors who put him there are treacherous Americans for selling out a major American corporation like AIG. It borders on the edge of traitor.
Maybe the people in Croatia allow executives to recieve exorbitant million dollar bonuses while the rest of us are in an economic crisis. But that is not allowed here in America.

[Furby]

Your whole belief system is based on greed. It's called capitalism and your country has been bowing at that alter for a hundred years. What the Sam Hill are your talking about "not allowed here in America"? America invented "exorbitant bonuses" in the name of capitalism. Japan figured out the destructive nature of this inequity and put caps on executive pay.

[kappa08]

seriously man...go f*** yourself.
God forbid you pigs don't score a 5th house off of our tax payer money or send your entitled brats around the world as a graduation present...tell it those out of work because your degenerate habits....

[nah415]

I understand that the Wall Street kings who receive these outlandish bonuses don't want to stop the flow of money into their hands. However I can't help but notice that none of them have actually been able to give the public a thoughtful reason as to why they should continue to prosper at everyone else's expense.

The greedy are always going to argue that there is something they do to "earn" their millions. But do do they really? I haven't been convinced and apparently neither has anyone else who is not on the receiving end of this bloated payday.

If these guys don't want to stay in their jobs, there will always be talented young up-an-comers who would love the opportunity to take their place.

And I think we've had a taste for the outcome when the kings are motivated by money and nothing else. Let the people decide!

[AliveInNYC]

He's right...the people on Wall Street know what they're doing. The government should butt out and let them regulate themselves.

Oh wait...thats what happened the past 8 years and led to the financial mess we're in now....never mind.

[rudolph]

He misses the point completely. Would I want such an arrogant fool looking after my insurance?

[Douvie]

Regulate the bejeezus out of them.

[saintaug1]

A little coincidental that the NY AG would be doing this while the AFL-CIO and John Sweeney are asking for additional taxes on Wall Street stock transactions. I guess the unions have to support the president in raising taxes as pay back for bailing out GM. This all smacks of Chicago style politics big time. The majority of unions in NY have been investigated for corruption and the AFL-CIO contributed $40M to the democrats for past election campaigns. Pay to play.

[MsJoanne]

Yeah, those darned unions! Who needs sick time, or vacation time, or 5 day workweeks, or benefits!! Let the free market drive your salary, workdays and time off!

[Furby]

Why do you see a coincidence between imposing a "greed tax" on bonuses, and imposing a trading tax on brokers? Furthermore, it makes perfect sense to me that people who don't trade shouldn't have to pay for those who do. Not everything is political. Some things are just common sense. Charge the user, overcharge the abuser.

[xansam]

isn't this from the guy who is "working" from his 12 bedroom villa in Croatia?